Depending on where is S.

State - it depends, you can have real estate transfer tax issues / re assessment issues. 

Education wise can be expensive depending on how a host has gone about learning how to run a STR.

Most NonQM want 690+ score. - time heals the score if you pay as agreed, start ticking away at the credit cards with $10 extra before the due date.Negotiate an extension from the seller.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Depends on your risk tolerance as well. 

It depends on a lot of factors.

Fast forward 15 years and I'm here to make new friends/collaborators and share some of what I learned.There are still deals out there but as always your mileage may vary depending on what you are looking for.

I have a great credit score and solid W-2 earnings so I’m pretty sure I could assume the loan.

It depends on your market and interest rates.